Escrow Holdback Specialist

CCM CrossCountry Mortgage, LLC; Cleveland (OH); On-site; USD 42,000 - 66,000; Full time

Job summary

CrossCountry Mortgage, LLC is seeking an Escrow Holdback Specialist to manage disbursement and post-closing tasks for Escrow Holdback Loans. You will prepare borrower communications, verify fund locations, and ensure timely disbursements in line with disclosures.

You'll review appraisals, monitor loan progress, coordinate with loan officers, branch representatives, title companies, municipalities and contractors to close out holdbacks, and maintain daily logs in Encompass.

Qualifications

• High School Diploma or equivalent.
• 1 year of Mortgage Lending or Financial Industry experience preferred.
• Knowledge of Encompass preferred.
• Proficient in math and analytical skills.
• Excellent professional communication skills.Adept in problem solving.
• Excellent prioritization and time management.
• Experienced with Microsoft Outlook, Excel, Word and Windows.

Responsibilities

• Complete the Escrow Holdback Loan disbursement process.
• Send out Borrower Email Welcome Packages.
• Verify where Escrow Holdback Funds are being held.
• Review the Closing Disclosure and reconcile with the 2015 Itemization for fund allocations.
• Review Appraisal for work to be completed.
• Monitor undeliverable loans and request lock rate extensions as required.
• Monitor and authorize Municipality and Title Company release of funds.
• Monitor each loan’s progress and manage daily borrower communication.
• Interface with Loan Officers, Branch representatives, Closers, Title Companies, Municipalities and Contractors all to facilitate close out of Escrow Holdbacks.
• Maintain and update daily communication logs on projects by entering information into Encompass (the operating system’s fields and folders).
• Order the inspections, coordinate scheduling, and retrieve reports from respective websites.
• Collect the w-9, lien waiver, invoice, release authorization and any necessary inspections to release Escrow Holdback Funds.
• Disburse Escrow Holdback Funds within allotted timeframes set by agency and lender.
• Process the close out of the Escrow Holdback with any related Agencies as required.
• Perform other adjacent team duties as needed.

Skills

Math skills

Analytical thinking

Communication skills

Time management

Problem solving

Attention to detail

Education

High School Diploma or equivalent

Tools

Encompass

Microsoft Outlook

Excel

Word

Windows

Job description

CrossCountry Mortgage (CCM)is the nation's number one distributed retail mortgage lender with more than 9,000 employees operating over 700 branches and servicing loans across all 50 states, D.C. and Puerto Rico. Our company has been recognized ten times on the Inc. 5000 list of America's fastest-growing private businesses and has received many awards for our standout culture. A culture where you can grow! CCM has created an exceptional culture driving employee engagement, exceeding employee expectations, and directly impacting company success. At our core, our entrepreneurial spirit empowers every employee to be who they are to help us move forward together. You’ll get unwavering support from all departments and total transparency from the top down. CCM offers eligible employees a competitive compensation plan and a robust benefits package, including medical, dental, vision, as well as a 401K. We also offer company-provided short-term disability, an employee assistance program, and a wellness program.

Position Overview

The Escrow Holdback Specialist is responsible for the disbursement and the post-closing tasks associated with Escrow Holdback Loans. Tasks will include but are not limited to the sending out of Borrower Welcome Letters, verifying where funds are being held, monitoring progress, ensuring working completion dates are being followed and processing final disbursements.

Job Responsibilities

• Complete the Escrow Holdback Loan disbursement process.
• Send out Borrower Email Welcome Packages.
• Verify where Escrow Holdback Funds are being held.
• Review the Closing Disclosure and reconcile with the 2015 Itemization for fund allocations.
• Review Appraisal for work to be completed.
• Monitor undeliverable loans and request lock rate extensions as required.
• Monitor and authorize Municipality and Title Company release of funds.
• Monitor each loan’s progress and manage daily borrower communication.
• Interface with Loan Officers, Branch representatives, Closers, Title Companies, Municipalities and Contractors all to facilitate close out of Escrow Holdbacks.
• Maintain and update daily communication logs on projects by entering information into Encompass (the operating system’s fields and folders).
• Order the inspections, coordinate scheduling, and retrieve reports from respective websites.
• Collect the w-9, lien waiver, invoice, release authorization and any necessary inspections to release Escrow Holdback Funds.
• Disburse Escrow Holdback Funds within allotted timeframes set by agency and lender.
• Process the close out of the Escrow Holdback with any related Agencies as required.
• Perform other adjacent team duties as needed.

Qualifications and Skills

• High School Diploma or equivalent.
• 1 year of Mortgage Lending or Financial Industry experience preferred.
• Knowledge of Encompass preferred.
• Proficient in math and analytical skills.
• Excellent professional communication skills.Adept in problem solving.
• Excellent prioritization and time management.
• Experienced with Microsoft Outlook, Excel, Word and Windows.

This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. However, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

CrossCountry Mortgage, LLC offers MORE than a job, we offer a career.

CrossCountry Mortgage, LLC strives to provide employees with a robust benefit package: https://mycrosscountrybenefits.com

California residents: Please see CrossCountry’s privacy statement for information about how CrossCountry collects and uses personal information about California applicants.

CrossCountry Mortgage supports equal employment opportunity in hiring, development and advancement for all qualified persons without regard to race, color, religion, religious creed, national origin, age, physical or mental disability, ancestry, marital status, uniformed service, covered veteran status, citizenship status, sex (including pregnancy, childbirth, and related medical conditions, and lactation), sexual orientation, gender identity, gender expression, transgender status, domestic violence victim status (where applicable), protected hair style or texture, genetic information (testing or characteristics), or any other protected status of an individual or because of the individual’s association with a member of a protected group or any other characteristic protected by federal, state, or local law (“Protected Characteristics”). The collective sum of the individual differences, life experiences, knowledge, inventiveness, innovation, self-expression, unique capabilities and talent that our employees invest in their work represents a significant part of not only our culture, but our reputation.

The Company is committed to fostering, cultivating and preserving a culture that welcomes diversity and inclusion.

CrossCountry Mortgage, LLC (NMLS3029) is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. To verify licensing, please visit www.NMLSConsumerAccess.org.

Our growth is creating great opportunities! Our team is expanding, and we want to hire the most talented people we can. Continued success depends on it! So once you've had a chance to explore our current open positions, apply to the ones you feel suit you best and keep track of both your progress in the selection process, and new postings that might interest you! Thanks for your interest in working on our team! Our Work Experience is the combination of everything that's unique about us: our culture, our core values, our company meetings, our commitment to sustainability, our recognition programs, but most importantly, it's our people. Our employees are self-disciplined, hard working, curious, trustworthy, humble, and truthful. They make choices according to what is best for the team, they live for opportunities to collaborate and make a difference, and they make us the #1 Top Workplace in the area.